May 31, 2011

Keep your Real Estate contract Clean

A piece of advice that I like to offer buyers - When making an offer on a house, it's usually best to keep your first offer as clean as possible. One reason is because a confused mind will usually say no. Overwhelming a seller with too many requests forces them to answer all those requests - and some of the answers are likely to be no. In fact, the one big answer may become no.

Another reason for a clean contract is that I find most folks will give about 3 times and then they start balking at requests. Lets say you offer:
  • a reduced price ( and they give some ),
  • you want the backyard swing set ( they give again), 
  • you want the seller to pay a portion of your closing costs ( here they go giving again ),
  • you want the washer and dryer ( gee these buyers are getting greedy ), 
  • you want a 2 week option period ( that's it, we've given enough ). And they haven't even gotten to the part where you ask them to pay for a home warranty or the survey or any repairs.
Decide what is important to you and make that the priority. If you get further into negotiations ( like with repairs ), you may be able to ask for other items. Or negotiate them completely separately. But in the beginning, keep your contract simple and you have a better chance of getting to the next step. [where: 75230]

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